Team Blitz India
NEW DELHI: India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and industry Minister Piyush Goyal has said.
India’s forex kitty jumped USD 3.553 billion to USD 599.529 billion for the week ended May 12, according to the Reserve Bank of India.
The minister also said that the government’s efforts have helped in managing inflation and “I am happy that it has been respected and recognised by the RBI (as) they have also taken a pause on the interest rates during the last MPC (Monetary Policy Committee) meeting”.
On forex reserves, he said: “We have strong foreign exchange reserves… In the worst case with whatever difficulty anybody may have, India is comfortable for the next 5 or 6 years, given our forex reserves today, to be able to meet our forex requirements.”
The minister was speaking at the annual session of industry body CII here on May 24.
